You own an appliance in a working class neighborhood that makes most of its sales on credit. What considerations would you take into account in determining whether and when to foreclose or repossess items on which customers have fallen behind in making their payments? Should you be swayed by the personal circumstances of your debtor or look only to protecting your financial interests?

For example, would you consider the value of the item to the debtor ” such as whether it is a necessity for their life, such as a refrigerator, or a luxury? Would you consider the reason the person had fallen behind ” that is whether they had been ill or recently lost a job? Discuss this ethical dilemma using the these steps.

1. Grasp all the available facts.
2. List any information you would like to have but don”t an what assumptions you would have made, if any, in resolving the dilemma.
3. Take each person involved in the dilemma and list the concerns they face or might have. Be sure to consider the impact on those not specifically mentioned in the case.

4. Develop a list of resolutions for the problem. Apply various models for reaching this solution. As you apply the various models to the dilemma, you may find additional insights for questions 1, 2 and 3. If the breach has already occurred, consider the possible remedies and developed systemic changes so that such breaches do not occur in the future.